Mortgage Refinancing

Overview

Welcome to our mortgage refinancing page. Here, you can learn all about mortgage refinancing and how they can help you refinance your existing mortgage loan for better terms and benefits.

What is Refinance for?

  • Lower Down Your Commitment

    You can access to lower your interest rates and thus reduce your monthly mortgage payments. Additional money to aid your financial needs.

  • More Cash Out For Business

    Own a fully/partial paid property years ago? Need cash out for cash flow to your business? If above answer is ‘Yes’, get yourself a consultation form us.

  • Take Down the Bad Debts

    Mortgage loan is by far the lowest interest rate among other financial loan from banks. By going through debt consolidation we can consolidate all the bad debts together and improve your credit scoring too!

Our Trusted Lenders

At YEK Mortgage Solutions, we have partnered with leading lenders in the industry to bring you the best mortgage loan options. Our trusted network of lenders includes renowned financial institutions that offer competitive interest rates, flexible terms, and a wide range of loan products. We have carefully selected these lenders based on their reputation, customer service, and commitment to delivering personalized solutions. Rest assured, with our esteemed partners, you can access a diverse range of mortgage options tailored to your specific needs. Benefit from our strong partnerships and let us connect you with the right lender for your dream home.

Refinancing Process

Evaluation

Your financial situation is accessed and evaluated but our consultant. Property valuation, current refinancing assessment is conducted.

Application

Submit the required documents (property details, personal details and financial details) to the lender.

Approval

The lender evaluates your application and creditworthiness.

Offer and Acceptance

Review and accept the refinancing offer.

Settlement

The new mortgage is disbursed, and the existing loan is settled.

FAQs

  • Refinancing involves replacing your existing mortgage with a new loan that offers better terms or benefits. It allows you to modify loan terms, access lower interest rates, and potentially reduce monthly payments. A home equity loan, on the other hand, is a separate loan that allows you to borrow against the equity in your home without replacing your existing mortgage.

  • Yes, if your property value has increased, you may be able to take advantage of the higher equity when refinancing. Lenders typically consider the current market value of your property during the refinancing process.

  • Yes, refinancing may involve fees and charges such as application fees, valuation fees, legal fees, and potential prepayment penalties for your existing mortgage. It's important to review and understand the fees associated with refinancing before proceeding.

  • When you refinance, the new loan pays off your existing mortgage in full. Your previous mortgage will be closed, and you will start making payments on the new loan according to the terms and conditions of the refinanced mortgage.